Stryker initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Stryker with a Buy rating and $345 price target as the firm rolled out coverage on the Orthopedic industry with a focus on spine and diversified orthopedic companies. Stryker “remains a premier diversified medical device company with best-in-class execution,” says the analyst. While COVID-19 disruptions and recent supply shortages have broken the company’s trend recently, these issues are “finally subsiding” and Roth believes the company is poised for a return to form, with upside into 2024 with strong new product flow, the analyst added.